Maybank Incorporates New Unit In India

Last update: 06/10/2017

KUALA LUMPUR, Oct 6 (Bernama) -- Malayan Banking Bhd (Maybank) has incorporated a new subsidiary in India, namely MBB Labs Pvt Ltd (MBB Labs), via its two wholly-owned subsidiaries, Dourado Tora Holdings Sdn Bhd (DTH) and Maybank Shared Services Sdn Bhd (MSS).

MBB Labs will be providing information technology development services to the Maybank group.

In a filing to Bursa Malaysia yesterday, Maybank said the issued and paid-up share capital of MBB Labs stood at INR15 million (RM970,766), comprising 1.5 million equity shares of INR10 (RM0.65) each.

MSS and DTH each hold 1,499,999 and 1 equity shares respectively in MBB Labs.

Maybank had obtained Bank Negara Malaysia's approval for the incorporation on July 3, 2017.....